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FERC Issues Letter Order Accepting Panoche Energy Center, LLC's 6/27/13 Filing of an Updated Market Power Analysis Under ER10-2538
[March 15, 2014]

FERC Issues Letter Order Accepting Panoche Energy Center, LLC's 6/27/13 Filing of an Updated Market Power Analysis Under ER10-2538

(Targeted News Service Via Acquire Media NewsEdge) WASHINGTON, March 13 -- The U.S. Department of Energy's Federal Energy Regulatory Commission issued the text of the following delegated order: In Reply Refer To: Panoche Energy Center, LLC Docket No. ER10-2538-001 March 13, 2014 Mr. Mark C. Williams Attorney for Panoche Energy Center, LLC Bingham McCutchen LLP 2020 K Street, N.W.

Washington, D.C. 20006 Reference: Updated Market Power Analysis in Compliance with Order No. 697 Dear Mr. Williams: On June 27, 2013, as amended on February 5, 2014, you filed on behalf of Panoche Energy Center, LLC (Panoche) an updated market power analysis for the Southwest region in compliance with the regional reporting schedule adopted in Order No. 697 and pursuant to the Commission's order granting Panoche authority to sell electric energy and capacity at market-based rates.

Your filings were noticed on June 28, 2013 and February 5, 2014, with comments, protests or interventions due on or before August 26, 2013 and February 18, 2014, respectively. None was filed.

Pursuant to the authority delegated to the Director, Division of Electric Power Regulation - West, under 18 C.F.R. section 375.307, your submittals filed in the referenced docket are accepted for filing.

You state that Panoche owns an approximately 412 megawatt (MW) generation facility in the California Independent System Operator Corporation (CAISO) market. You represent that Panoche is wholly owned by EIF Management, LLC (EIF), and is affiliated with approximately 121 MW of generation capacity in the CAISO market. You state that Panoche and its affiliates do not own or control any transmission facilities, other than limited interconnection facilities. Further, you affirmatively state that Panoche has not erected barriers to entry and will not erect barriers to entry into the relevant market.

Market-Based Rate Authorization The Commission allows power sales at market-based rates if the seller and its affiliates do not have, or have adequately mitigated, horizontal and vertical market power.

Panoche has prepared the pivotal supplier and wholesale market share screens for the CAISO market consistent with the requirements of Order No. 697, when the Commission-accepted Simultaneous Transmission Import Limit (SIL) study results are taken into consideration for the CAISO market.

Your horizontal market power screens have been reviewed, and you pass both the pivotal supplier and wholesale market share screens in the CAISO market when the Commission-accepted SIL values for those areas are applied. Based on your representations, your submittal satisfies the Commission's requirements for market-based rate authority regarding horizontal market power.

Based on your representations, Panoche's submittals also satisfy the Commission's requirements for market-based rate authority regarding vertical market power.

Panoche must file electronically with the Commission Electric Quarterly Reports. Panoche further must timely report to the Commission any change in status that would reflect a departure from the characteristics the Commission relied upon in granting market-based rate authority.

This action does not constitute approval of any service, rate, charge, classification, or any rule, regulation, or practice affecting such rate or service provided for in the filed documents; nor shall such action be deemed as recognition of any claimed contractual right or obligation affecting or relating to such service or rate; and such acceptance is without prejudice to any findings or orders which have been or may hereafter be made by the Commission in any proceeding now pending or hereafter instituted by or against any of the applicant(s).

This order constitutes final agency action. Requests for rehearing by the Commission may be filed within 30 days of the date of issuance of this order, pursuant to 18 C.F.R section 385.713.

Questions regarding the above order should be directed to: Federal Energy Regulatory Commission Attn: Debra Irwin Phone: (202) 502-6253 Office of Energy Market Regulation 888 First Street, N.E.

Washington, D.C. 20426 Sincerely, Steve P. Rodgers, Director Division of Electric Power Regulation - West TNS 18EstebanLiz-140315-30FurigayJane-4668523 30FurigayJane (c) 2014 Targeted News Service

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